Advanced Micro Devices (NASDAQ:AMD) Trading 1.4% Higher – Still a Buy?

Advanced Micro Devices, Inc. (NASDAQ:AMD) rose 1.4% on Wednesday . The company traded as high as $127.51 and last traded at $126.29. Approximately 24,829,563 shares traded hands during trading, a decline of 54% from the average daily volume of 53,598,766 shares. The stock had previously closed at $124.60.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Bank of America downgraded Advanced Micro Devices from a “buy” rating to a “neutral” rating and reduced their price target for the company from $180.00 to $155.00 in a research note on Monday, December 9th. TD Cowen decreased their price target on shares of Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Mizuho dropped their price objective on shares of Advanced Micro Devices from $185.00 to $180.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Cantor Fitzgerald restated an “overweight” rating and set a $180.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $180.00 price target (down from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and an average target price of $191.96.

Advanced Micro Devices Stock Performance

The company has a fifty day moving average price of $140.58 and a two-hundred day moving average price of $149.84. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. The company has a market capitalization of $204.94 billion, a P/E ratio of 113.77, a PEG ratio of 1.88 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.92. The firm had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 EPS. Equities analysts forecast that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Lisa T. Su sold 76,496 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $142.66, for a total value of $10,912,919.36. Following the transaction, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at $508,834,266.92. The trade was a 2.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total value of $5,743,301.80. Following the sale, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at $41,558,469.49. This represents a 12.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 197,036 shares of company stock valued at $28,165,821. 0.65% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Advanced Micro Devices

A number of institutional investors and hedge funds have recently modified their holdings of AMD. Christopher J. Hasenberg Inc lifted its position in shares of Advanced Micro Devices by 12.0% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 560 shares of the semiconductor manufacturer’s stock valued at $97,000 after acquiring an additional 60 shares during the period. Wealth Effects LLC boosted its position in shares of Advanced Micro Devices by 0.7% during the 3rd quarter. Wealth Effects LLC now owns 9,419 shares of the semiconductor manufacturer’s stock worth $1,545,000 after purchasing an additional 65 shares in the last quarter. Jacobsen Capital Management boosted its position in shares of Advanced Micro Devices by 2.1% during the 3rd quarter. Jacobsen Capital Management now owns 3,378 shares of the semiconductor manufacturer’s stock worth $554,000 after purchasing an additional 70 shares in the last quarter. Sigma Investment Counselors Inc. increased its position in Advanced Micro Devices by 5.3% in the 3rd quarter. Sigma Investment Counselors Inc. now owns 1,482 shares of the semiconductor manufacturer’s stock valued at $243,000 after buying an additional 74 shares in the last quarter. Finally, Bedell Frazier Investment Counselling LLC raised its stake in Advanced Micro Devices by 4.3% during the 3rd quarter. Bedell Frazier Investment Counselling LLC now owns 1,780 shares of the semiconductor manufacturer’s stock worth $292,000 after buying an additional 74 shares during the period. 71.34% of the stock is currently owned by institutional investors.

About Advanced Micro Devices

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates through Data Center, Client, Gaming, and Embedded segments. The company offers x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs; and embedded processors, and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing unites, field programmable gate arrays (FPGA), and adaptive SoC products.